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HOUSTON - Westlake Chemical Partners LP (NYSE:WLKP) reported first quarter 2025 earnings that fell short of analyst expectations on Friday.
Westlake Chemical (NYSE:WLK) Partners shares were down -0.42% in premarket trading following the earnings release.
The petrochemical company posted earnings per unit of $0.14, missing the analyst consensus estimate of $0.37 by $0.23. Revenue for the quarter came in at $190.78 million, down 18.9% YoY from $235.21 million in Q1 2024.
Net income attributable to the partnership fell to $4.9 million in Q1 2025, compared to $14.8 million in the same quarter last year. The company said results were negatively impacted by a planned turnaround at its Petro 1 ethylene facility in Lake Charles, Louisiana.
"As expected, our first quarter of 2025 distributable cash flow and associated coverage ratio were negatively impacted by the planned turnaround at our Petro 1 ethylene facility," said Jean-Marc Gilson, President and CEO. "Importantly, Petro 1 returned to full operating rates last month and has been operating well ever since."
The partnership declared a quarterly distribution of $0.4714 per unit, marking its 43rd consecutive quarterly distribution.
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